Here Are All The Latest News And Developments From The Ukraine War: March 25

With newsflow out of Ukraine nothing less than a firehose (of often fake news), with market moving headlines firing every other minute on average, traders can be forgiven if they have just given up following the narrative. To help out, here is a snapshot of all the latest market-moving news out of Ukraine from the last few hours courtesy of Newsquawk:

Defense/Military

“There is progress in ceasefire negotiations with Russia”, according to Ukrainian President Advisor cited by Sky News Arabia; expresses “cautious optimism” about talks with Russia; There is a possibility of a diplomatic breakthrough in talks with Russia

Turkey President Erdogan says Russia and Ukraine can reach compromise on four of six issues discussed, but territorial disputes remain.

Russian military will submit a proposal to Russian President Putin on how best to respond to NATO beefing up its Eastern flank, according to the Kremlin

US Pentagon senior official said Russia is running out of precision-guided munitions for the war in Ukraine and that the Ukraine war makes Russia a strategic burden for China.

US Pentagon’s new strategy will describe Russia as an acute threat but one that cannot pose a long-term systemic challenge, while Russia will emerge from the Ukrainian war weaker militarily and politically.

Energy/Economic Sanctions

EU joint statement noted the EU demands that Russia stop committing war crimes in Ukraine and EU is prepared to close loopholes in Russian sanctions.

US President Biden said US, EU coming together to reduce the bloc’s dependency on Russian energy; we should not subsidise Russia President Putin’s attack on Ukraine

Australia announced new sanctions on Russia and Belarus including Belarusian President Lukashenko and members of his family.

Russia is mulling selling its oil and gas for Bitcoin as sanctions intensify, according to CNBC.

US DoJ charged four Russian government workers over hacking campaigns that targeted the global energy sector, according to FT.

Dedollarization

Indian Government is expected to formally announce a INR-RUB payment arrangement next week which would allow the bypassing of US sanctions, according to Sputnik.

Other

North Korea confirmed Thursday’s launch was a ‘new-type’ Hwasong-17 and that its leader Kim directly guided the ICBM test, while Kim sees the new ICBM as an important deterrent against nuclear war. Kim also stated the new weapon shows the might and modernity of North Korea’s strategic force and that they are preparing for a long confrontation with US imperialism. Furthermore, he said North Korea’s strategic force is ready to check and contain any military attempt by the US, while he warned whoever attempts to infringe on North Korea’s security will pay dearly.

US imposed sanctions on five entities and individuals in Russia, North Korea and China for weapons proliferation, according to the State Department.

Indian Foreign Minister said military talks with China have made progress, but issues are not sorted out, according to Reuters.